This is a friendly, interactive exchange of information on all Real Estate related subjects. Follow on Twitter: @RETALKS


Moderator: admin

 
MikeStewartRealtor
Real Estate Talker
Topic Author
Posts: 650
Joined: Fri Nov 21, 2008 8:39 am
Location: Vancouver
Contact:

July 2011 REBGV Stats

Wed Aug 03, 2011 9:06 am

Active home sellers bring greater selection to the Greater Vancouver housing market
While the balance between home buyer and seller activity remains in an equilibrium range in the Greater Vancouver housing market, last month’s home sale total was below the 10-year average for July.

The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales of detached, attached and apartment properties on the region’s Multiple Listing Service® (MLS®) reached 2,571 in July, a 14 per cent increase compared to the 2,255 sales in July 2010 and a 21.2 per cent decline compared to the 3,262 sales in June 2011.

“We’re seeing less multiple offer situations in the market today compared to the last few months, but our members tell us that homes priced competitively continue to sell at a relatively swift pace,” Rosario Setticasi, REBGV president said. “It’s taking, on average, 41 days to sell a property in the region, which is unchanged from June of this year.”

New listings for detached, attached and apartment properties in Greater Vancouver totalled 5,097 in July. This represents a 23.2 per cent increase compared to July 2010 when 4,138 properties were listed for sale on the MLS® and a 12 per cent decline compared to the 5,793 new listings reported in June 2011.

Last month’s new listing total was 8.6 per cent higher than the 10-year average for July, while residential sales were 17.3 per cent below the ten-year average for sales in July.

At 15,226, the total number of residential property listings on the MLS® increased 0.8 per cent in July compared to last month and declined 7.3 per cent from this time last year.

“The number of homes listed for sale in the region has increased each month since the start of the year, which is giving buyers more selection to choose from and more time to make decisions,” Rosario Setticasi, REBGV president said.
The MLSLink® Housing Price Index (HPI) benchmark price for all residential properties in Greater Vancouver over the last 12 months has increased 9.2 per cent to $630,251 in July 2011 from $577,074 in July 2010.

Sales of detached properties on the MLS® in July 2011 reached 1,099, an increase of 21 per cent from the 908 detached sales recorded in July 2010, and an 31.9 per cent decrease from the 1,614 units sold in July 2009. The benchmark price for detached properties increased 13.3 per cent from July 2010 to $898,886.

Sales of apartment properties reached 1,040 in July 2011, a 6.2 per cent increase compared to the 979 sales in July 2010, and a decrease of 39.1 per cent compared to the 1,708 sales in July 2009. The benchmark price of an apartment property increased 4.5 per cent from July 2010 to $405,306.

Attached property sales in July 2011 totalled 432, a 17.4 per cent increase compared to the 368 sales in July 2010, and a 45.5 per cent decrease from the 792 attached properties sold in July 2009. The benchmark price of an attached unit increased 6.9 per cent between July 2010 and 2011 to $524,909.

CHECK OUT ALL THE GRAPHS AND CHARTS HERE! - http://www.mikestewart.ca/blog/2011/08/ ... ts-package
 
jimtan
Real Estate Talker
Posts: 5512
Joined: Tue Jul 31, 2007 10:59 pm
Contact:

Re: July 2011 REBGV Stats

Wed Aug 03, 2011 1:00 pm

Anything priced to sell will move. Buyers just aren't willing to push up to new price levels. In Yaletown, condos are stalling at the $1000 psf mark.

Looks like a standoff. let's see what inventory is like in late autumn.

At the moment, there's a lot of bad news. No surprise that the nuyers are being cautious. It's a good thing.
 
unicas
Real Estate Talker
Posts: 1426
Joined: Mon Feb 25, 2008 10:35 pm
Contact:

Re: July 2011 REBGV Stats

Wed Aug 03, 2011 1:16 pm

At the moment, there's a lot of bad news. No surprise that the nuyers are being cautious. It's a good thing.
looks like 2008 again.
 
jimtan
Real Estate Talker
Posts: 5512
Joined: Tue Jul 31, 2007 10:59 pm
Contact:

Re: July 2011 REBGV Stats

Wed Aug 03, 2011 9:50 pm

At the moment, there's a lot of bad news. No surprise that the nuyers are being cautious. It's a good thing.
looks like 2008 again.
Don't think so. Not by a long shot.
 
vanpro
Real Estate Talker
Posts: 1863
Joined: Fri Sep 04, 2009 12:32 pm
Contact:

Re: July 2011 REBGV Stats

Thu Aug 04, 2011 6:05 am

At the moment, there's a lot of bad news. No surprise that the nuyers are being cautious. It's a good thing.
looks like 2008 again.
Yup - maybe worse in terms of worldwide economic and financial crisis - Eurozone, US etc...
 
MikeStewartRealtor
Real Estate Talker
Topic Author
Posts: 650
Joined: Fri Nov 21, 2008 8:39 am
Location: Vancouver
Contact:

Re: July 2011 REBGV Stats

Thu Aug 04, 2011 6:34 am

Its busy in the markets I work, not as many multiple offers, but I would chock that up to seasonal variation. If what I am seeing in terms of new clients coming in, Fall will be very busy for us.
 
vanreal
Real Estate Talker
Posts: 959
Joined: Mon Feb 20, 2006 7:15 pm
Contact:

Re: July 2011 REBGV Stats

Thu Aug 04, 2011 7:41 am

Its busy in the markets I work, not as many multiple offers, but I would chock that up to seasonal variation. If what I am seeing in terms of new clients coming in, Fall will be very busy for us.
Properties still seem to be selling well in my part of town. I think the suburbs may be in trouble. The prices have always been too high there for what you get.
 
tapioca
Real Estate Talker
Posts: 1038
Joined: Wed Feb 15, 2006 6:20 am
Contact:

Re: July 2011 REBGV Stats

Sat Aug 06, 2011 9:43 am

things are still selling around here..oh wait i live in teh suburbs..that can't be right :roll:
 
MikeStewartRealtor
Real Estate Talker
Topic Author
Posts: 650
Joined: Fri Nov 21, 2008 8:39 am
Location: Vancouver
Contact:

Re: July 2011 REBGV Stats

Mon Aug 08, 2011 9:02 pm

Its too early to say what the idiocy South of the border will do to Vancouver's market.

I'm cautiously optimistic. (big surprise!)
 
vanreal
Real Estate Talker
Posts: 959
Joined: Mon Feb 20, 2006 7:15 pm
Contact:

Re: July 2011 REBGV Stats

Mon Aug 08, 2011 9:35 pm

things are still selling around here..oh wait i live in teh suburbs..that can't be right :roll:
yeah you must be mistaken.
 
User avatar
registered
Real Estate Talker
Posts: 4617
Joined: Sat Jun 02, 2007 10:49 pm
Contact:

Re: July 2011 REBGV Stats

Tue Aug 09, 2011 3:50 am

Its too early to say what the idiocy South of the border will do to Vancouver's market.
Like what? Americans fled CDN real estate years ago. We've heard over and over that our banks have no exposure to the south. For all but a few products, metals for example, BC's balance of trade with the Americans is dramatically down from 10 years ago.
The idiocy here is home brewed and Harper's out of bullets.
the dogs bark but the caravan moves on
 
gse36
Real Estate Talker
Posts: 1451
Joined: Sun Feb 20, 2005 9:20 pm
Contact:

Re: July 2011 REBGV Stats

Tue Aug 09, 2011 8:15 am

Its too early to say what the idiocy South of the border will do to Vancouver's market.

I'm cautiously optimistic. (big surprise!)
When America stumbles, Canada falls.... because rely too much on them -- because we cannot stand on our own! Canada is almost a subsidiary to the US (parent). When the parent gets hit, the sub suffers more than the parent. If any of the two survive, its the parent.

Our Canadian dollar has lost almost 5% over the past week due to all the US news. Gee, and you would think they are the ones screwing up ;)
 
eyesthebye
Real Estate Talker
Posts: 5863
Joined: Tue Jan 06, 2009 2:53 pm
Contact:

Re: July 2011 REBGV Stats

Tue Aug 09, 2011 8:40 am

Its too early to say what the idiocy South of the border will do to Vancouver's market.

I'm cautiously optimistic. (big surprise!)
When America stumbles, Canada falls.... because rely too much on them -- because we cannot stand on our own! Canada is almost a subsidiary to the US (parent). When the parent gets hit, the sub suffers more than the parent. If any of the two survive, its the parent.

Our Canadian dollar has lost almost 5% over the past week due to all the US news. Gee, and you would think they are the ones screwing up ;)
America stumbled badly the last three years but we've been doing OK. Please explain.
the cure for higher prices is moving to a destination with lower prices
 
vanreal
Real Estate Talker
Posts: 959
Joined: Mon Feb 20, 2006 7:15 pm
Contact:

Re: July 2011 REBGV Stats

Tue Aug 09, 2011 2:35 pm

Its too early to say what the idiocy South of the border will do to Vancouver's market.

I'm cautiously optimistic. (big surprise!)
When America stumbles, Canada falls.... because rely too much on them -- because we cannot stand on our own! Canada is almost a subsidiary to the US (parent). When the parent gets hit, the sub suffers more than the parent. If any of the two survive, its the parent.

Our Canadian dollar has lost almost 5% over the past week due to all the US news. Gee, and you would think they are the ones screwing up ;)
the Canadian dollar fell against the US dollar because even with all its troubles, the US dollar is seen as a safe haven in times of volatility. This pushes the Can$ down. It has nothing to do with our connection to the US.
 
User avatar
jesse1
Real Estate Talker
Posts: 5097
Joined: Mon Feb 18, 2008 12:51 pm
Contact:

Re: July 2011 REBGV Stats

Tue Aug 09, 2011 3:00 pm

The CAD fell because of falling oil prices. It is that simple. Really.

Who is online

Users browsing this forum: No registered users and 19 guests